Shiba Inu's Ambitious Expansion Beyond Meme Status

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

ALT+0.786%

SHIB-0.485%

Should l Buy ALT?

Platform Updates: Shiba Inu is enhancing its market position by updating its Shibarium and ShibaSwap platforms, introducing the Shib Owes You protocol, and launching AI-driven 'Shibarium Skills' tools, which aim to resolve RPC connection issues and improve user experience and platform competitiveness.
Price Fluctuations: Currently, Shiba Inu (SHIB) is trading at approximately $0.00000620, experiencing a slight 1.12% dip over the past 24 hours, fluctuating between $0.00000618 and $0.00000627, indicating market stability amidst low trading volumes.
Future Projections: Forecasts suggest SHIB's price could range from $0.000005173 to $0.000027 by 2026, with expectations for May 2026 set between $0.00000560 and $0.000007757, and a maximum price of $0.00004280 by 2032, indicating potential for long-term growth.
Progress in Japan: Shiba Inu has made positive strides in the Japanese market, with Rakuten Wallet initiating spot trading for the token on April 15, following its addition to Japan's 'Green List', and its inclusion in SBI VC Trade's 'Rent Coin' lending program, offering yields between 2% and 5%, thereby expanding investment opportunities.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like ALT with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for ALT

Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 4 indicators are flashing buy, while 1 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Altlayer (ALT) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00649	0.00692	0.0073	0.00773	0.00811	0.00854	0.00892
Fibonacci	0.00692	0.00723	0.00742	0.00773	0.00804	0.00823	0.00854

About ALT

AltLayer is an open and decentralized protocol for rollups. AltLayer brings together a novel idea of Restaked Rollups which takes rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security, decentralization, interoperability and crypto-economic fast finality by leveraging restaking mechanism.ALT is AltLayer's native utility token and is used in the following functions:Economic bond: ALT token will be used alongside restaked assets to provide economic stake. This stake can be slashed if a malicious behavior is detected.Governance: ALT token holders can vote on governance decisions.Protocol Incentivization: Operators in the AltLayer ecosystem can earn ALT tokens as rewards for their services.Protocol Fees: Network participants will need to pay for intra-network services in ALT tokens.AltLayer’s core offering of restaked rollups consists of three key products: VITAL: An Actively Validated Service (AVS), where operators verify blocks and the corresponding states committed by the rollup sequencer and raise fraud proof challenges if necessary.MACH: A protocol to provide faster finality to rollups by allowing operators to restake Ethereum-based assets to back any claims on the rollup state.SQUAD: Offer decentralized sequencing with economic backing. Decentralized sequencing eliminates short-term liveness concerns, bad MEV, rent extractions and other issues associated with rollups that operate with a single sequencer.AltLayer has raised 22.8MM USD from two rounds of private token sales, where 18.50% of the ALT total token supply has been sold at 0.008 USD / ALT and 0.018 USD / ALT respectively.AltLayer’s investors include Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan (former CTO of Coinbase and former GP of a16z), Gavin Wood (Co-Founder of Ethereum and Parity), Sean Neville (Circle Co-Founder and USDC architect) and Ryan Selkis (Founder of Messari), among others.As of January 17th 2024, the total supply of ALT is 10,000,000,000 and the circulating supply upon listing will be 1,100,000,000 (11.00% of the total token supply.)

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for ALT?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy ALT?

Get Started Free